Pro Cooperative
2017 Grain Policy – Effective Dates Sept 1, 2017 through Aug. 31, 2018

 

Grade Requirements - Corn

Contracts: 15.0% Moisture
Warehouse Receipts: 14.0% Moisture
Grain Bank: 14.0% Moisture
Price Later: 15.0% Moisture

Drying Charges:

3.75 cents per point
Subject to change without any prior notice
1.50% shrink factor for each 1% of moisture removed.

Warehouse Storage: Corn and Beans - (51 3/4 cents/year)

1/5 cent/Bu/day – Sept. 1, 2017 to Jan. 31, 2018 (6 cents/mo)
1/8 cent/Bu/day – Feb. 1, 2018 to Apr. 30, 2018 (3.75 cents/mo)
1/15 cent/Bu/day – May 1, 2018 to Aug. 31, 2018 (2 cents/mo)

Grain Disposition:

Harvest Policy: 10 days from first load delivered September 1, 2017 to November 30, 2017
After Harvest Policy: 30 days – 12-1-2017 to 8-31-2018

New Crop 2017 Price Later Program:  Corn (55.5 cents/year)

1/5 cent/Bu/day – Sept. 1, 2017 to Jan. 31, 2018 (6 cents/mo)
1/7 cent/Bu/day – Feb. 1, 2018 to Apr 30, 2018 (4.25 cents/mo)
1/15 cent/Bu/day – May 1, 2018 to Aug. 31, 2018 (2 cents/mo)

Price Later Contract:

Expires July 31, 2018 1:15 p.m. market close unless otherwise indicated on contract. Regular drying charges apply. Corn and Soybeans on Price Later are NOT Eligible to forward Contracted. Price Later bushels MUST be sold based on current cash bid price. No deferred cash prices allowed on Price Later. 

Biotech GMO Policy:

Non-approved varieties of corn for export markets must be delivered to our Feed Mill Locations ONLY (Rolfe, Ayrshire, Manson). We require that anyone with varieties not approved for an export market give Pro Cooperative notice before delivery. Subject to space available with prior notice.

Moisture Averaging: 

Corn will be averaged 17.1% and higher for the high group and 17.0% to 13.0% for the low group. Loads under 13.0% will be brought to 13.0%. All averaging will be settled based on first day of disposition within the set days (10 days for harvest and 30 days post-harvest).

Grain Bank Storage:

1st 90 days free - .0015 cent/bu/day thereafter 4 1/2 cents per month. Regular storage rates apply to any grain sold from date of deposit. 25 cent/Bu charge to apply on corn removed as whole corn unprocessed.

Grade Requirements - Soybeans

Contracts: 13.0% Moisture
Warehouse Receipts: 13.0% Moisture
Price Later: 13.0% Moisture

Soybean Moisture:

Soybeans will be purchased on a 13.0% moisture basis. A 3.0% weight reduction will be taken for each point of moisture from 13.1% to 15.0%. A 4.0% weight reduction will be taken for each point of moisture from 15.1% and above. Over 15.0% subject to rejection. Loads 13.1% to 13.5% will average 13.6% to 15% will average separately. Over 16% may be sold.

Foreign Material:

All FM in excess of 1.0% will be deducted from the total weight. This includes weed seed, dirt, corn, pods, and stems.

.C.C. Warehouse Storage:

Unused prepaid storage will be refunded to producer at time of sale of grain. Also, the in-handling charge will be refunded.

Price Later Program Notices:

Corn and soybeans price later contracts are subject to a roll fee IF Pro Cooperative allows this contract type to roll upon expiration. Any contract rolls that occur will be subject to the next year’s grain policy changes and a roll fee. Reminder: Corn and beans placed on price later contracts will not be eligible for C.C.C. loans.

Discounts:

For heat, moisture damage, insects, mold, test weight, foreign material, musty, sour, and other which are in effect from the grain trade at the time of settlement will be applied. For discount schedule please inquire with the Grain Origination team for full details.

Prepaid Storage:

Storage must be paid in advance if federal warehouse receipt is required. C.C.C. requires storage to be paid to maturity date of loan. Also a 7 cent per bushel handling charge is required by C.C.C.
 
Corn sold through feed mill: will be sold 14 cents over spot price. Corn not processed through feed mill is 25 cents over spot price. 

The first grain delivered will be applied to the oldest contracts first unless other arrangements are made in advance note:
This policy and individual items within it are subject to change at any time without prior notice.